Gizmodo reported on Donald Trump Jr. and Eric Trump’s Wednesday Mar-a-Lago conference pushing their family crypto company, World Liberty Financial.
“In many ways, it’s a victory lap for the Trump family, a recognition that there is no mechanism available to stop the unprecedented corruption that’s being done out in the open, as foreign governments and U.S.-based executives jostle to please the Trump regime and profit from their proximity to political power,” reports Gizmodo.
“We were the most canceled people in the world in 2020, 2021,” Eric Trump told CNBC host Sara Eisen. “And it’s really great to almost have this retribution where all of a sudden we start pushing an agenda. Our agenda was to modernize finance, to allow that to never, ever, ever happen to anybody again.”
“The part Eric Trump is leaving out,” said Gizmodo writer Matt Novak, “is President Trump’s attempt at a self-coup on Jan. 6, 2021, sending a violent mob to storm the U.S. Capitol in a bid to remain in power after losing the 2020 election. The president was banned from the major social media platforms, and his family was cut off from some banking opportunities over his effort to overthrow the government. The president has since sued JPMorgan Chase and CEO Jamie Dimon over the moves.”
Gizmodo also reports the Trump sons “bragged” to CNBC about how opening their own crypto company has given them “credibility.” But Gizmodo counters that World Liberty Financial’s stablecoin, USD1, is “a fiat-backed cryptocurrency that the Trumps have tried to tout as a brilliant hedge against the traditional financial system, an argument that doesn’t make much sense given how dependent it is on that same system for stability.”
Donald Trump Jr. remains irritated that the family was briefly debanked, and he did not appreciate how banks could drop a customer at their own discretion.
“Crypto totally democratizes the ability for people to transact, to do finance, to get the loans that they need for businesses that make sense. That didn’t exist for everyone,” said Donald Trump Jr., which is a “frankly idiotic” suggestion said Novak.
“Just last year, World Liberty blacklisted Justin Sun’s blockchain address, which has over 595 million WLFI tokens, due to suspicious transactions,” said Gizmodo. “… Every financial institution, whether it’s focused on crypto or traditional banking, has to follow certain laws and regulations and has the discretion to lock up funds or boot anyone it doesn’t like.”
When Eisen asked the Trump sons about the $187 million paid to Trump family reps by people connected to the Emirati royal family, Donald Trump Jr. insisted that his father had “nothing to do with it” and that the UAE investment wasn’t at all related to the AI chips that President Donald Trump immediately granted the UAE access to after their generosity.
“We’ve been dealing with the conflict-of-interest stuff for years. And they tried all this nonsense the first time around. Frankly, it’s gotten old,” Donald Trump Jr. told Eisen.
Novak points out that Jr. is referring to the fact that “no other White House in modern history has seen the president and his family profit in such a galling way.”